Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1

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... ovviamente, ad essere maligni, manca ancora il via libera del FMI che si riunirà all'inizio di settimana prossima.
Ricordo che il rilascio della Quinta Tranche, da parte del FMI, era subordinata ad un piano di sostenibilità del debito per i prossimi 12 mesi.
Il "piano" verrà però discusso - in prima battuta - dall'Eurogruppo non prima dell'11 luglio.
Una prima "grana" da risolvere per la neoeletta Christine Lagarde ...

Intanto buona serata, ci sentiamo domani.
 
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ciao tommy 1 domanda per i piu' esperti mi potete dare 1 giudizio sul nuovo post di argema dei migliori articoli stranieri dove parla del rollover del debito greco? ciao
 
... ovviamente, ad essere maligni, manca ancora il via libera del FMI che si riunirà all'inizio di settimana prossima.
Ricordo che il rilascio della Quinta Tranche, da parte del FMI, era subordinata ad un piano di sostenibilità del debito per i prossimi 12 mesi.
Il "piano" verrà però discusso - in prima battuta - dall'Eurogruppo non prima dell'11 luglio.
Una prima "grana" da risolvere per la neoeletta Christine Lagarde ...

Intanto buona serata, ci sentiamo domani.

Siamo ottimisti, ormai questa è andata. Concentriamoci sulla prossima...

:D
 
ciao tommy 1 domanda per i piu' esperti mi potete dare 1 giudizio sul nuovo post di argema dei migliori articoli stranieri dove parla del rollover del debito greco? ciao

La traduzione degli articoli dalla stampa estera, mi sembra un'ottima iniziativa.

In merito poi al post sul rollaggio... la descrizione fatta che favorisca solo le banche mi sembra un pò esagerata.
Tra l'altro, la situazione sta andando verso il mio orizzonte ideale: la Troika si sta sempre più impegnando economicamente nella Grecia, le banche tengono in portafoglio il debito greco.
La quota nelle loro mani cresce sempre di più ... quale migliore soluzione per il retail?
Certamente non ci perdono, ma i vantaggi sono reciproci.
Nel mio post del sabato ho praticamente tradotto in italiano l'originale proposta francese.
L'unico appunto che mi sento di fare, riguarda il tasso di interesse.
Un 5,50% su un trentennale è giusto ... più opinabile il meccanismo di calcolo della quota variabile in base al PIL che potrebbe portare ad un max dell'8%.
Ma, essendo ancora proposta, può ancora essere oggetto di mediazione.
 
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Europe must learn from Greek crisis errors, say Poles



Polish Finance Minister Jacek Rostowski speaks out as his country takes over EU presidency


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Poland's finance minister raised doubts on Saturday about Europe's handling of the Greek debt crisis, pointing to too much emphasis on austerity, too little focus on growth and a short-sightedness in some nations.
The comments by Jacek Rostowski, a British-born economist and academic, have added resonance as Poland took over the six-month presidency of the European Union on Friday. Rostowski will now chair meetings of EU finance ministers and hopes to take part in critical talks among euro-zone finance ministers.
Speaking to the foreign media in Warsaw, Rostowski suggested several missteps had been made in trying to restabilise Greece, saying he was concerned that not enough was being done to bolster Greek gross domestic product and that there had been too much attention focused on cutting spending and raising taxes.
"It's clear that everybody has made mistakes over the past year and a half,» he said. «We've all been behind the curve.
"The International Monetary Fund has a huge amount of experience in how to run these things (rescue programmes). There are lots of things still that we can learn from the way the IMF does things,» he said, without going into specifics.
"In Greece, you need consolidation and growth. You address the debt-to-GDP ratio either in the nominator or the denominator, and really you need to introduce it in both.»
Rostowski's comments reflect growing concern among EU officials that the strictures being imposed on Greece, including 28 billion euros of austerity measures between now and 2015, are too harsh and may inflict fatal damage on its ailing economy.
The EU and IMF lent Greece 110 billion euros of emergency loans in May 2010, with the next installment due in the coming weeks to stave off the imminent threat of default, but Athens now needs another package of a similar size.
Support for the Greek, Irish and Portuguese bailouts has deteriorated sharply in some euro zone states, most notably the Netherlands and Finland, creating domestic political problems and deepening a north-south divide in the currency area.
Without naming names, Rostowski said some opposition parties had shown a «breathtaking short-sightedness» when it came to taking decisions to support Greece, a position he said had threatened the stability of the entire 17-country eurozone.
"We really do need to start thinking in terms of our common European interest, which would be massively threatened if we failed to take this action,» he said.
"There is a growing estrangement between the north and the south and we have to be very careful that this does not continue amplifying, it's got to be politically brought under control.
"It's about defending the common interest, not allowing the common interest to go down the drain because of excessive particularism,» he said.
Poland, a powerhouse economy in central and eastern Europe, with steady growth of around 4.0 percent and a growing stock market, is expected to fulfil the fiscal criteria for joining the euro as early as next year.
But Prime Minister Donald Tusk has made clear Warsaw will not be joining until the euro zone has restabilised and has put in place new mechanisms for assuring its long-term stability, a date Rostowski said could be more than five years away.
In the meantime, he said Europe needed to focus hard on passing the stricter debt- and deficit-monitoring procedures contained in legislation now before the European Parliament, and had to reexamine the crisis-control measures it is adopting.
"The key element of the difference between the European approach and the IMF approach is that the IMF has been more proactive, has tailored programmes more, bringing in programmes that are not seen as the first step towards bankruptcy.
"In the case of our European programmes, that has not been fully achieved. They must change their character and by doing that, change the way they are perceived,» he said.
Drawing on his education at a fee-paying British school, Rostowski said the charged political atmosphere in Europe might lead to a breakthrough if only leaders could see that solidarity was also part of «enlightened self-interest».
"What we want to do is to say, this is a common problem for all of us, we all benefit if we resolve it and we're all going to lose dramatically if we don't resolve it.
"It's the self-interest of being in the team and working together to achieve what only a team can achieve, as opposed to the self-interest of everyone pulling their own way or direction. That's something they teach you at British public schools and it's something that Europe could benefit from.»
[Reuters]






ekathimerini.com , Saturday Jul 2, 2011 (23:20)
 
German finance minister urges Greece to work hard



Schaeuble urges government to proceed with austerity measures, privatizations


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German Finance Minister Wolfgang Schaeuble said on Saturday -- after the approval of the release of a tranche of loans to Greece -- that efforts to meet demands for the next tranche in the autumn must continue unabated.
Schaeuble said, after a conference call among the 17 euro zone finance ministers, the release was made possible by the Greek parliament passing austerity and reform laws on Wednesday and Thursday, removing the threat of a near-term debt default.
"After the release of the fifth tranche by the eurozone countries and the IMF, the next step must be tackled decisively: the measures passed in Athens have to be quickly implemented. The privatisations, for example, have to be started without delay,» Schaeuble said.
"The work on a necessary new program for Greece are continuing at a high pace. That means the inclusion of the private sector, which will be making a voluntary substantial contribution to the next programme for Greece.»
Schaeuble added: «The passage of the new programme can then be completed before the release of the next tranche in the autumn -- provided, as always, that the implementation of the programme in Greece takes place as planned.»
Earlier on Saturday, euro zone finance ministers agreed to disburse a further 12 billion euros to Greece and said the details of a second aid package for Athens would be worked out in the «coming weeks».
[Reuters]






ekathimerini.com , Sunday Jul 3, 2011 (10:59)
 
German FM on Greek crisis



German Foreign Minister Guido Westerwelle ruled out the possibility of Greece exiting eurozone or leaving a united Europe, in comments carried by an Athens weekly on Saturday.
He added that he has never considered Greece's expulsion or exit from the eurozone, "how could I ever want one of the sources of European civilisation to be outside Europe?"
Westerwelle supported the Greek government's policy over a boost in competitiveness, underlining that "the best medicine most of the times has a bitter taste".
The top German diplomat was also queried on the stance of main opposition New Democracy and ND leader Antonis Samaras, stressing that "I recognise his privilege to have a different option, but I have the right not to accept it, and to warn him of the danger that will arise if reforms are overruled."
Moreover, Westerwelle noted that German politicians had recently referred to Greece in an arrogant manner, calling such statements improper. Conversely, he said many anti-German banners and slogans aired during protests in by certain Greek media "left a bitter taste".
Concluding he noted that the debt cannot be ameliorated with new debts, but only by fiscal discipline and reforms.



(ana.gr)
 
Unemployment at 15%



BRUSSELS (ANA-MPA / M. Spinthourakis) -- The unemployment rate in Greece (15 pct) was the fourth largest rate in the European Union in the first quarter of 2011, Eurostat announced on Friday. The EU executive's statistics agency, in a report, said, however, that Greece ranked first in recording the highest rate of increase as unemployment stood at 11 pct of the workforce in the first quarter of 2010.
Spain (20.9 pct), Lithuania (16.3 pct) and Latvia (16.2 pct) recorded the highest unemployment rates in the EU, while Holland (4.2 pct), Austria (4.2 pct) and Luxembourg (4.5 pct) the lowest rates. The EU average unemployment rate was 9.3 pct in the January-March period.
Bulgaria (from 10.1 pct to 11.2 pct), Cyprus (from 6.4 pct to 7.4 pct) and Slovenia (from 7.3 pct to 8.3 pct) followed Greece in recording the highest rate increases, while Estonia, Latvia, Germany and Hungary recorded the lowest growth rates.
Unemployment among young people totaled 44.4 pct in Spain and 38.5 pct in Greece, while the EU average rate was 20.4 pct.
 
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